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<ul><li>BYJU's is an <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> platform founded in 2015 with a current valuation of $22 billion. </li><li>Management of the edtech platform says cost-cutting is being done to “achieve overall profitability by March 2023”. </li><li>Many edtech firms have resorted to layoffs this year. </li></ul>Indian edtech decacorn BYJU's announced yesterday that it has laid off 2,500 employees as it has consolidated the many platforms it has acquired – like Toppr, Meritnation, <keyword id="192259" type="General" weightage="50" keywordseo="tutorvista" source="Orion">TutorVista</keyword>, Scholar and HashLearn. This move, the company said, is a way to avoid redundancies in job roles and the layoffs constitute 5% of its workforce. “These measures will help us achieve profitability in the defined time frame of March 2023," said Mrinal Mohit, CEO, BYJU'S India business. As per the audited FY21 financials that it released last month after an 18-month delay, its losses widened by 20 times to ₹4,589 crore. In the last three years, the company has been on an acquisition spree. Its biggest one so far is that of offline test preparatory services provider Aakash for $1 billion in 2021. The payments to PE major Blackstone, which owned 38% in Aakash, were eventually <a href="https://www.thehindu.com/business/byjus-clears-230-million-dues-to-blackstone-for-aakash-acquisition/article65931486.ece">cleared by the company, albeit after delays</a>. It has also purchased Singapore-based <keyword id="6559242" type="General" weightage="50" keywordseo="great-learning" source="Orion">Great Learning</keyword> for $600 million in 2021. Both these entities will function independently, <keyword id="3320944" type="General" weightage="100" keywordseo="byjus" source="Orion">Byjus</keyword> had said. Edtechs in trouble This year, many edtech companies have been suffering from loss of clientele after offline classes have commenced and screen fatigue. Since July this year, many edtech companies like Unacademy and Vedantu have been laying off <a href="https://www.businessinsider.in/business/startups/news/60000-jobs-in-startup-companies-may-lose-their-jobs-this-year-in-india-experts-say/amp_articleshow/91804572.cms">employees</a>. Byju’s which has by then also made its presence felt in offline coaching, is also known to have gone down the same path. As per reports, <a href="https://www.business-standard.com/article/companies/byju-s-owned-whitehat-jr-lays-off-300-employees-in-latest-round-of-job-cuts-122062900323_1.html">WhiteHat Jr, owned by Byju's</a>, laid off around 300 employees in June from the code-teaching and sales teams. However, various <a href="https://www.news18.com/news/business/byjus-lays-off-over-2500-employees-in-toppr-and-whitehat-jr-to-cut-costs-5463853.html">media reports have pegged the layoff </a>number between 1,500-2,500. The company vehemently denied the numbers, but did admit to retrenchments. “To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams across our group companies. This entire exercise involves less than 500 employees from across Byju's group companies,” the company spokesperson said after denying the 2,500 layoff number. In good shape says management The edtech giant, which is valued at around $22 billion and is the first edtech unicorn in India has also been under scrutiny for various reasons. The company management however insists that it is in good shape. <keyword id="5563078" type="General" weightage="50" keywordseo="divya-gokulnath" source="Orion">Divya Gokulnath</keyword>, the company’s co-founder also came out in defense of the company saying that a lot has happened since its FY21 results and its widened losses have already been cut by half in FY22. “It’s easy to forget that we are 18 months post FY21, and that BYJU’S has grown more than 4 times in this span,” she wrote in an open letter on LinkedIn. For this year, the company has set a target to achieve $2 billion in revenues. The company founder has stated time <a href="https://www.business-standard.com/article/companies/byju-s-focusing-on-profitable-growth-2-bn-revenue-within-the-sights-ceo-122092001266_1.html">and again that this</a> “revenue within sight”. On the other end of the spectrum, <a href="https://www.bbc.com/news/world-asia-india-58951449">Byju’s users have been complaining </a>about aggressive sales tactics and its effects on learning abilities. Moreover, a few of its employees too <a href="https://twitter.com/malpani/status/1379826997598121987?lang=en">publicly spoke of its</a> high-pressure tactics and practices that’s turned almost exploitative to Indian parents who place a lot of value on their children’s education. SEE ALSO: <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/investments-in-real-estate-touched-3-6-billion-in-jan-sep-period-colliers/articleshow/94833113.cms">Investments in real estate touched $3.6 billion in Jan-Sep period: Colliers</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms">IT cos go slow on hiring despite high attrition rates, hiring down 57% in Q2</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/elon-musk-jokes-he-is-selling-perfumes-to-fund-twitter-acquisition/articleshow/94832660.cms">Elon Musk jokes he is selling ‘Burnt Hair’ perfumes to fund Twitter acquisition, changes bio to “Perfume Salesman” as sales cross 20,000</a>

The many troubles at BYJU’s that goes beyond the recent layoffs

Edtech platform <keyword id="2900267" type="General" weightage="80" keywordseo="byju" source="Orion">BYJU</keyword>'s on Monday said that the company has received funds from 11 out of 13 investors in a Rs 3,600 crore funding round which started in June last year. New York-based Oxshott in September 2021 invested Rs 1,200 crore as part of the Series F round at Rs 285,072 per share, which is yet to arrive. "Additionally, Oxshott wasn't leading the round. In fact, they were one of the last investors to come in for that round. Out of the total Rs 3,600 crore, Rs 2,400 crore has already come in," a company spokesperson told IANS. Other investors in the round were Edelweiss (Rs 344.9 crore), IIFL (Rs 110 crore), Verition Multi-Strategy Master Fund (Rs 147 crore), and XN Exponent Holdings (Rs 150 crore). The Morning Context first reported that "money from <keyword id="14428557" type="General" weightage="50" keywordseo="oxshott-capital-partners" source="Orion">Oxshott Capital Partners</keyword> or related entities for an investment has not reached the company". Oxshott <keyword id="14428559" type="General" weightage="50" keywordseo="venture-fund-x-llc" source="Orion">Venture Fund X LLC</keyword> and <keyword id="14428558" type="General" weightage="50" keywordseo="drd-holdings-sarl" source="Orion">DRD Holdings SARL</keyword> are both investment vehicles of <keyword id="14428556" type="General" weightage="50" keywordseo="oxshott-capital" source="Orion">Oxshott Capital</keyword>. It is common industry practice for investment funds to establish separate investment vehicles for compliance/internal structuring purposes to deploy investments. In the current case, the investor has requested that their investment be deployed through DRD Holdings SARL (instead of Oxshott Venture Fund X LLC). The fresh development came after another report recently claimed that some money in the Rs 6,300 crore private equity investment that BYJU's announced early this year has also not arrived. In March, BYJU'S had announced to raise about Rs 6,300 crore (around $800 million) from Sumeru Ventures, Vitruvian Partners, and BlackRock. <keyword id="1702989" type="General" weightage="50" keywordseo="byju-raveendran" source="Orion">Byju Raveendran</keyword>, Founder and CEO, was also part of the funding round and made a personal investment of $400 million. According to reports, the money from Sumeru Ventures "hasn't come in and questions are being raised about the fund's antecedents". However, BYJU'S said most of the funds have been received and the rest were on track. The company said that "its fundraising efforts are on track and majority of the $800 million has been already received". "The balance is also expected soon," a company spokesperson had told IANS. Meanwhile, the edtech giant said recently it has closed the nearly $1 billion acquisition of offline test preparatory services provider <keyword id="6380190" type="General" weightage="50" keywordseo="aakash" source="Orion">Aakash</keyword>. The company, in a statement, said last week that its payments to Aakash are "closed" and the "audited financial results are going to be announced in the next 10 days". BYJU'S has also been in the news for laying off employees and disgruntled parents complaining about poor quality of learning material and sales pitches by agents. Late last month, BYJU's announced to cut nearly 600 jobs -- 300 employees at its Toppr learning platform and another 300 at coding platform WhiteHat Jr. "In order to reduce redundancies across our organisation after multiple acquisitions, we had to let go of nearly one per cent of our 50,000+ strong workforce," said a company spokesperson. BYJU'S also lost a case in a consumer court, where a Bengaluru man sued the company in a consumer court for providing low-quality tablets and study material to his son and daughter who were promised <keyword id="10591" type="General" weightage="50" keywordseo="samsung" source="Orion">Samsung</keyword> tablets worth Rs 25,000. Further, the edtech major also backed out of its promise to convert the tuition fee of Rs 99,000 into EMIs. When the company did not pay heed to his demand of cancelling the subscription and refunding, he filed a case and won a refund of the fee of Rs 99,000 and a compensation of Rs 30,000, according to reports. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/opinion-priorities-for-building-an-energy-efficient-indian-economy/articleshow/92804706.cms">OPINION: Priorities for building an energy-efficient Indian economy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/uber-files-what-they-reveal-about-the-companys-india-operations/articleshow/92805725.cms">Uber Files — What they reveal about the company’s India operations</a>

Byjus raises more Rs 3,600 cr and says its fundraising plans are on 'track'

<ul><li>Around 76,000 students applied for internships every day in 2020, reveals a survey conducted by recruitment and training platform, <a href="https://economictimes.indiatimes.com/jobs/76000-students-applied-to-internships-every-day-in-past-year-survey/articleshow/81967814.cms?from=mdr">Internshala</a>.</li><li>Internships have become an integral part of a college's student’s career trajectory in India, irrespective of their educational background.</li><li>These companies are hiring interns for different roles in different parts of the country.</li></ul>Students who want to enter the job industry, ideally, should get some hands-on experience with internships. Around 76,000 students applied for internships every day in 2020, reveals a survey conducted by recruitment and training platform, <a href="https://economictimes.indiatimes.com/jobs/76000-students-applied-to-internships-every-day-in-past-year-survey/articleshow/81967814.cms?from=mdr">Internshala</a>. Internships have become an integral part of a college's student’s career trajectory in India, irrespective of their educational background. There was a 35% rise in students seeking internships in 2020 as compared to 2019, revealed the report. Business development, content writing, human resources, digital marketing, social media marketing, marketing, and research are some of the good profiles for a fresher to pursue. These companies are hiring interns for different roles in different parts of the country — 1. <keyword id="10387" type="COMPANY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> — Research World’s biggest multinational software company is looking to hire <a href="https://careers.microsoft.com/us/en/job/931311/Research-Intern?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">Research interns</a> where interns will learn and collaborate with experienced researchers. Eligibility: Candidates must be enrolled in a university as part of either doctoral, masters, or undergraduate programmes or be a recent graduate from such a programme. 2. <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> — Business Development The telecommunications company is seeking to hire <a href="https://internshala.com/internship/detail/business-development-sales-internship-in-multiple-locations-at-bharti-airtel-limited1621837165">Business Development</a> interns at various locations -- Ahmedabad, Jaipur, Gandhinagar and Rajasthan for three months with a comprehensive stipend of ₹10,000 per month. Job role: Interns will have to handle distributors, work on channel sales and drive prepaid business, reporting, process compliance and generating revenue. 3. BYJU’S — Marketing Ed-tech company is looking out for <a href="https://internshala.com/internship/detail/marketing-internship-in-multiple-locations-at-byjus-the-learning-app1620706014">Marketing interns</a> at various locations for four months with a stipend of ₹18,000 per month. Job role: The candidates will have to interact with school personnel and inform them about the ongoing projects, achieve weekly targets of interaction and closure, and meet the prospects for the business. 4.<keyword id="8681398" type="UNKNOWN" weightage="20" keywordseo="Urban-Company">Urban Company</keyword> — Operations Urban Company (earlier UrbanClap), a home-service marketplace is looking for interns in <a href="https://internshala.com/internship/detail/operations-internship-in-chennai-at-urban-company1622180187">Chennai</a> and <a href="https://internshala.com/internship/detail/operations-internship-in-bangalore-at-urban-company1622197584">Bangalore</a> for one month with a stipend of ₹10,000 per month. Job role: The selected intern would have to work on supply on-board, quality control of supply base and initiate the user friendly flow. Urban Company also has a vacancy for Human Resources interns who can <a href="https://internshala.com/internship/detail/human-resources-hr-work-from-home-job-internship-at-urban-company1622456109">work-from-home</a> for two months with a stipend of ₹10,000. Job role: The selected candidates will take interviews of prospective candidates,design the interview and reporting structure of the team. 5. Just Dial — Human Resources (HR) The local search services firm is hiring an <a href="https://internshala.com/internship/detail/human-resources-hr-internship-in-chandigarh-at-justdial-limited1621499461">HR intern</a> in Chandigarh for three months with a stipend of ₹5,000 per month. Job role: HR will have to make cold calls to preferred candidates, organise job fairs and events. 6. ByteDance (TikTok’s parent company) — Digital Marketing This global internet giant is actively looking for <a href="https://internshala.com/internship/detail/digital-marketing-work-from-home-job-internship-at-bytedance1621925865">Digital Marketing</a> interns who can work-from-home for three months with a competitive stipend of ₹18,000 per month. Job role: The selected candidates will have to handle the daily operations of teachers on Youtube platforms, complete Youtube data collection, and establish partnerships with influencers in different industries. 7. IIT Bombay — Content Creation Indian Institute of Technology, Bombay is looking for <a href="https://internshala.com/internship/detail/content-creation-work-from-home-job-internship-at-iit-bombay1621335538">content creators </a>who can work from home for six months with a stipend of ₹1,000 per month. Job role: The chosen candidates will have to come up with catchy stories to structure content, creating high quality power presentations. 8. IDBI Federal Life Insurance Company — Marketing The multinational insurance firm is looking for <a href="https://internshala.com/internship/detail/marketing-internship-in-kolkata-at-idbi-federal-life-insurance-company1620757275">Marketing interns</a> in Kolkata for the period of two months with a comprehensive stipend of ₹5,000 per month. Job role: The selected candidates will have to formulate new ideas to add value, set and achieve performance targets, develop and enter into alliances and affiliations with other organisations. It is also hiring <a href="https://internshala.com/internship/detail/human-resources-hr-work-from-home-job-internship-at-idbi-federal-life-insurance-company1620757033">Human Resources</a> interns who can work-from-home for three months with a stipend ranging between ₹4,000 - ₹7,000 per month. Job role: Candidates will have to plan, develop and implement a strategy for HR, establish and maintain appropriate systems for HR development. 9. Freecharge — Business Development The payment platform is hiring <a href="https://internshala.com/internship/detail/business-development-sales-internship-in-multiple-locations-at-freecharge-payments-technology-private-limited1622193927">Business Development interns</a> in Gurgaon, Noida and Delhi for three months with a stipend of ₹7,000 per month. Job role: Candidate will be responsible to contact new partners, work on merchant acquisition and operations. 10. Zoomcar — Graphic Designing The car rental startup is hiring graphic designing interns who can work-from-home for three months with a stipend of ₹5,000 per month. Job role: The selected candidates will assist the creative team and art director, work on multiple projects simultaneously, maintain high standards of graphic designs with quality control, according to the firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/these-are-the-hottest-jobs-in-the-cyber-security-industry-right-now-with-a-salary-package-of-up-to-23-lakh-per-annum/articleshow/82629876.cms">These are the hottest jobs in the cyber security industry right now, with a salary package of up to ₹23 lakh per annum</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/if-you-want-to-work-from-home-these-are-some-of-the-hottest-freelancing-jobs-in-high-demand/articleshow/81228585.cms">If you want to work from home, these are some of the hottest freelancing jobs in high demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/earn-money-online-here-are-some-exciting-part-time-work-from-home-jobs/articleshow/82449228.cms">These are some exciting part-time work-from-home jobs you can do to earn a few extra bucks</a>

Microsoft, Airtel, BYJU’S, IIT-Bombay and more — here is a list of companies looking for interns

You Searched For "jobs at byjus byjus hiring" and got 3 results

The many troubles at BYJU’s that goes beyond the recent layoffs

Eetika Kapoor

Byjus raises more Rs 3,600 cr and says its fundraising plans are on 'track'

IANS

Microsoft, Airtel, BYJU’S, IIT-Bombay and more — here is a list of companies looking for interns

Vaamanaa Sethi

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